Please show all steps for problem 1 and 2

Prepare the journal entries to record the following transactions on Markowitz Company's books using a perpetual inventory system. On February 6, Markowitz Company sold $75,000 of merchandise to the Lyman Company, terms 2/10, net/30. The cost of the merchandise sold was $50,000. On February 8, the Lyman Company returned $10,000 of the merchandise purchased on February 6. The cost of the merchandise returned was $5,000. On February 16 Markowitz Company received the balance due from the Lyman Company. June 4 Black Company purchased $7,000 worth of merchandise, terms n/30 from Hayes Company. The cost of the merchandise was $4, 900. Black returned $500 worth of goods to Hayes for full credit. The goods had a cost of $350 to Hayes. Black paid the account in full